Summary
Market Overview:
The global contrast media market size reached US$ 4.5 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 5.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.11% during 2023-2028.
Contrast media, also known as contrast agents, is a group of chemical agents that aid in the characterization of pathology by improving the contrast resolution of an imaging modality. It is administered through injectors via oral, intravascular, and rectal routes. It helps enhance the visibility of the targeted body organs, tissues, and blood vessels during an ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI) scan. It also allows radiologists to determine the difference between aberrant and normal tissues of the body in images. As a result, contrast media finds extensive applications in the healthcare industry, especially in radiology, interventional cardiology, diagnostic imaging centers, and ambulatory surgical centers (ASCs) around the world.
Contrast Media Market Trends:
The growing global geriatric population, which is highly susceptible to various chronic medical disorders, represents one of the key factors positively influencing the market. The rising prevalence of cancer, neurological, and cardiovascular diseases are also significantly increasing the demand for diagnostic imaging procedures and contrast media. In line with this, the growing preferences for minimally invasive (MI) medical procedures and surgeries, as they require smaller incisions and cause less postoperative pain, shorter hospital stays, and faster recovery, are offering lucrative growth opportunities to manufacturers. Apart from this, due to a significant rise in medical tourism, the demand for radiopharmaceuticals is increasing across the globe. Furthermore, the advent of digital solutions for precise and effective management of contrast media is driving the demand for contrast media. This, along with the rising focus of several companies on launching innovative products to minimize waste generation during contrast media manufacturing, is strengthening the market growth. Moreover, increasing investments by several leading market players in extensive research and development (R&D) activities are anticipated to propel market growth.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global contrast media market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, modality, application, route of administration and end user.
Breakup by Type:
Iodinated Contrast Media
Gadolinium-based Contrast Media
Microbubble Contrast Media
Barium-based Contrast Media
Breakup by Modality:
X-ray/Computed Tomography (CT)
Magnetic Resonance Imaging (MRI)
Ultrasound
Breakup by Application:
Radiology
Interventional Radiology
Interventional Cardiology
Breakup by Route of Administration:
Intravenous/Intrarterial
Oral Route
Rectal Route
Others
Breakup by End User:
Hospital, Clinics and Ambulatory Surgery Centers
Diagnostic Imaging Centers
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bayer AG, Beijing Beilu Pharmaceuticals Company Limited, Bracco S.p.A., General Electric Company, Guerbet, iMAX Diagnostic Imaging Limited, J.B. Chemicals & Pharmaceuticals Limited, Jodas Expoim Pvt. Ltd., Lantheus, Nano Therapeutics Pvt Ltd, SANOCHEMIA Pharmazeutika GmbH, TAEJOON PHARM Co. Ltd. and Trivitron Healthcare.
Key Questions Answered in This Report
1. What was the size of the global contrast media market in 2022?
2. What is the expected growth rate of the global contrast media market during 2023-2028?
3. What has been the impact of COVID-19 on the global contrast media market?
4. What are the key factors driving the global contrast media market?
5. What is the breakup of the global contrast media market based on the type?
6. What is the breakup of the global contrast media market based on the modality?
7. What is the breakup of the global contrast media market based on the application?
8. What is the breakup of the global contrast media market based on the route of administration?
9. What are the key regions in the global contrast media market?
10. Who are the key players/companies in the global contrast media market?
